Protect against UKGOV savings confiscation

grey_gym_sock

i'm only going to make a practical point ...

in germany or austria, renting for long periods is much more normal. (perhaps because the legal system treats tenants better.) so i really wouldn't be holding cash because you might need it to buy a property after emigrating.

you would still need some cash to cover emigration, but you could surely invest a lot more (globally).

OTOH, if you're going to stay in the UK, it's sensible to buy, however much you disagree with the government's housing policy (even if you're completely right about the policy being wrong). (i should also be buying, BTW.)

Milarky

Wilkins wrote: »

That's where the money is

Willie Sutton!

So 'Financial repression' is just a business-as-usual term for the World Bank these days? I thought it was some made up hyperbolic language, but there it is in the abstract to the document linked.

guitarman001

atush wrote: »

As for your self inflicted loss, if you didn't sell it it might not have been a loss. and if you invested more wisely, by learning here and elsewhere you'd have made money like most of us.

Talk about holier than thou!!!!!! You never hear about the losses, huh?? Well, I knew what I was getting into, if it worked I would have been very well off, but as it stood, I was RIGHT to sell in that the company went under and I would have lost even more than I had! I've been honest stating my losses, so I don't know what got up your nose!
Honestly, get off that high horse lol! ;D

jimjames

guitarman001 wrote: »

Talk about holier than thou!!!!!! You never hear about the losses, huh?? Well, I knew what I was getting into, if it worked I would have been very well off, but as it stood, I was RIGHT to sell in that the company went under and I would have lost even more than I had! I've been honest stating my losses, so I don't know what got up your nose!
Honestly, get off that high horse lol! ;D

On the other hand making a loss like that probably means it wasn't the right investment for you anyway. Buy funds and they may go down but are very unlikely to ever drop to zero.

innovate

guitarman001 wrote:

What country? I quite like the idea of renting in Germany or Austria at the moment.

Are you seriously suggesting the overall situation in Germany and Austria is substantially different for savers? If anything, they are in a worse situation since they have to get a consensus from a huge number of countries before they can make any moves. In the UK, the decision is simple.

Have you compared the current, and the historic interest rates? If so, what attracts you to Germany/Austria in terms of saving interest rates?

Glen_Clark

brendon wrote: »

I think it's unlikely. If it happened, society would deteriorate overnight. There would be civil war on the streets.

Savers don't riot - they can't afford to. All their savings would be taken in legal costs and damages. People who riot have no savings or assets that can be taken away.

guitarman001

I hold one Vanguard fund as standard...

I believe the UK debt situation to be worse than Germany/Austria, no? But really it's because the people there are so much more polite/non-threatening and there are plenty of real (i.e. engineering) jobs; also renting is a dream compared to the UK. Rates.. haven't checked, but a good point, assuming all cash is transferred to Euros.

Glen_Clark

innovate wrote: »

Are you seriously suggesting the overall situation in Germany and Austria is substantially different for savers? If anything, they are in a worse situation since they have to get a consensus from a huge number of countries before they can make any moves. In the UK, the decision is simple.

Have you compared the current, and the historic interest rates? If so, what attracts you to Germany/Austria in terms of saving interest rates?

Inflation rates are more important to savers than interest rates. When the Euro was introduced you got 1.6 to the pound. Now its less than 1.2. So if we had Euros instead of pounds they would be worth over 33% more.
Do you think its an advantage to savers for the decision to print £375 billion and trash their currency to be a simple one?

doughnutmachine

Why would the Government steal savings when they can just endlessly print money?


Chill out dude!

kidmugsy

guitarman001 wrote: »

Every awful thing I could imagine this government (and last) doing, it has.

If your fear is government, then remember that property is a sitting duck for punitive taxation; it's immoveable, illiquid, and well-documented as to ownership.

Gold sovereigns stored in, say, a safety deposit, or at X Marks The Spot, might give a bit of protection, though you have to remember that FDR managed to confiscate Americans' gold wealth in the thirties.

Your best bet is probably to stock up on bog rolls and the like; nobody will bother confiscating them, nor will they tax your use of them.